At the workshop (Source: http://baocongthuong.com.vn)

Nghe An (VNA)
– A workshop was held in the central province of Nghe An on June 29 to seek ways to boost border trade activities with Laos.

Ambassador of Vietnam to Laos Nguyen Dinh Ba said shortcomings in regulations and policies of the two countries have caused difficulties for management agencies and businesses.

Investment has not been poured in building transport infrastructure in border markets over the past time, he said, adding that the cash payment in trade makes it difficult for commercial banks to open new branches, transaction and foreign exchange offices at border gates.

The bilateral coordination in preventing smuggling and trade fraud remains limited, Ba said.

At the workshop, economists and businesses proposed Nghe An make use of all investment resources to upgrade border trade infrastructure and prioritize building, expanding and improving roads to border gates to promote bilateral trade.

Experts suggested upgrading trade facilities, building border markets, and launching services at Nam Can and Thanh Thuy border gates.

Deputy Director of the provincial Department of Industry and Trade Vo Thi An called on Nghe An relevant agencies to coordinate with Lao counterparts to promote made-in-Vietnam products in the market as well as strengthen inspections of cross-border trade activities to ensure security and prevent trade fraud and smuggling.

She asked Laos’ Bolikhamsai and Houphan provinces to upgrade border gates with Vietnam and open auxiliary ones.

She suggested the two countries’ governments encourage online payment through banks to make it easier for import-export activities.

Nghe An shares 419km of borderline with Lao provinces of Bolikhamsai, Xiangkhouang, and Houphan. It is home to one international border gate and four auxiliary ones with Laos.

In the first six months of 2018, the total import-export turnover between Nghe An and Laos was estimated at 15.36 million USD, a year-on-year rise of 22 percent.

Of the figure, Nghe An exported 13.66 million USD worth of goods, mainly construction materials, electric wires and aquatic products.

Nearly 90 local businesses are making investment in Laos, focusing in the fields of mining, hydropower, processing, trade of timber and small trucks, wine and steel production, forestation, tourism, agro-fishery, consumption products, and information and communication services with a total investment of over 200 million USD.-VNA